Private sector employment increased by 278,000 jobs in May and annual pay was up 6.5% year over year, according to the May ADP National Employment Report.
The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market.
Last month brought a broad-based slowdown in pay increases. Job changers saw a gain of 12.1%, down a full percentage point from April. For job stayers, the increase was 6.5% in May, down from 6.7%. See more report highlights.